Weekly mortgage applications tank 29% as coronavirus stops homebuyers

Weekly mortgage applications tank 29% as coronavirus stops homebuyers

An increase in interest rates, combined with a massive shutdown of the economy caused homeowners and potential homebuyers to back away from the mortgage market. Total mortgage application volume fell 29.4% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages […]

Weekly jobless claims

Weekly jobless claims

Jobless claims rose to 281,000 last week, reflecting only the first indications of the impact the coronavirus will have on the U.S. employment picture. That number reflected a significant rise from last week’s 211,000, which was unrevised from the initial...